Vietnam, Malaysia enjoy thriving relations
The Vietnam-Malaysia relations have been consolidated and developed across the fields of politics-diplomacy, defence-security, economy, and cultural exchange over the past 45 years, according to Vietnamese Ambassador to Malaysia Le Quy Quynh.
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| Petronas Twin Tower in Kuala Lumpur, Malaysia (Photo: Xinhua/VNA) |
Regarding politics, regular exchanges at all levels have been promoted while cooperative mechanisms prioritised and maintained through generations of leaders.
Malaysia’s new government and Prime Minister Mahathir Mohamad attach much importance to the relations with Vietnam, and the Malaysian Government leader will pay an official visit to Vietnam and attend the World Economic Forum on ASEAN (WEF ASEAN) in September, the diplomat said.
Both countries have seen robust signs in trade and investment relations as well as found huge potential for further cooperation. Malaysia is currently the 8th largest trade partner of Vietnam, and Vietnam is the 12th largest trade partner of Malaysia.
Two-way trade in 2017 topped US$10 billion, a year-on-year increase of 19.06 percent, of which Vietnam exported US$4.2 billion worth of products to Malaysia and imported goods worth over US$5.8 billion from Malaysian. Both sides are striving to increase trade value to US$15 billion by 2020 under the Vietnam-Malaysia Action Plan in 2017-2019.
Malaysia ranks 7th out of 125 countries and territories investing in Vietnam. By the end of December 2017, the country had 568 projects with a total registered capital of US$12.18 billion in Vietnam.
The two countries have been interested in bolstering collaboration in security and defence. Particularly, 2018 marks the 10th anniversary of the signing of the Memorandum of Understanding on defence cooperation.
They continue enhancing information exchange, working to prevent piracy, as well as promoting search and rescue efforts, and assisting Vietnamese vessels in distress.
Also, fruitful cooperation has been recorded in labour, education and tourism, with the effective implementation of the labour cooperation deal inked in 2015, and various student exchange events.
There are more and more tourists travelling between the two nations. Malaysia has been in the top 10 Asian tourism markets of Vietnam, with some 400,000 arrivals in 2017, accounting for 3.48 percent of total foreigners spending holidays in the country in the year.
In the multilateral aspect, both nations have built confidence and strong bonds as they are active members of such organisations as the Association of Southeast Asian Nations (ASEAN), the Asian-Pacific Economic Cooperation Forum (APEC), the United Nations (UN), the Regional Comprehensive Economic Partnership (RCEP), and the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).
They share a common viewpoint on various issues, such as the ASEAN’s central role in the regional security structure, the full and effective implementation of the Declaration on the Conduct of the Parties in the East Sea (DOC) as well as the early finalisation of the Code of Conduct in the East Sea (COC).
Ambassdor Quynh reaffirmed that the bilateral ties have always been nurtured by generations of leaders of both sides, bringing benefits to the two peoples for the sake of regional and global peace and stability.
